Global Smart City Platform Market to Grow at a CAGR of 49.2% During 2024-2032, Aided by the Growing Focus on the Smart Mobility System

The rising application of smart city platform in the transportation sector is driving the market. These platforms help save time amid heavy traffic and also help passengers conserve energy due to their advanced features. In addition, smart city platform provides significant environmental benefits. Hence, the stringent government regulations aimed towards curbing carbon emissions are anticipated to be a major factor driving the market growth in the forecast period.

In October 2021, Microsoft Corporation (NASDAQ: MSFT) announced partnership with the Manila Municipal Government to accelerate digital transformation in Manila, the Philippines’ capital city, and bolster Microsoft’s goal of strengthening the city works internally. The parentship will aim at optimising the city’s “Go Manila” platform.

In terms of region, North America is anticipated to witness a considerable growth in the forecast period. The market in the region is driven by technological advancements and the presence of well-established infrastructure in various countries. The increased penetration of the internet of things (IoT) in the region is anticipated to be a major driving factor for the market expansion. Moreover, the growing research and development activities in the IT sector in countries like the United States is likely to provide impetus to the market in the forecast period.

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Market Breakup by Platform Type, Application, Deployment, and Region:

• The market is segmented based on platform type into connectivity management platform, integration platform, device management platform, data management platform, and security management platform.
• The significant applications of smart city platform include smart mobility/transportation, smart security, smart utilities, smart governance, smart infrastructure, and smart healthcare, among others.
• By deployment, the market is divided into on-premise and cloud.
• Region-wise, the global market for smart city platform can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for smart city platform is being driven by the emergence of e-governance and smart transportation in the urban areas.
• The technological advancements in commercial and industrial sector are anticipated to augment the market in the forecast period.
• In addition, the growing adoption of the internet of things (IoT) and AI in emerging economies is anticipated to provide a further impetus to the market.
• The market is estimated to be further aided by the increasing digitalisation across the world.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for smart city platform for the periods (2018-2023) and (2024-2032).
• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the platform types, applications, deployments, and regions of smart city platform.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global smart city platform market are Hitachi Vantara LLC, Huawei Technologies Co., Ltd., Schneider Electric SE, Siemens Aktiengesellschaft, Cisco Systems, Inc., and IBM Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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